GREY:INNHF - Post by User
Post by
JimPharneyon Dec 05, 2010 4:59pm
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Post# 17803409
Drilling
DrillingDrilling was due to start by end of November so it should be underway or imminent. Christo's comment about Hewitt having a lot of experience is definately bang on and having the McLeods behind the deal definately can't hurt either. Cigarro is in a really hot area. It looks like LVN's project is just north of Cigarro and 51% of that is now worth 150 million. Fingers crossed maybe we get there too. We're only at 5 million now.
I see the Aug financials say they only have about $1 million in cash available so hopefully we get some decent results so they can bring in the $2 million from the 20 cent warrants. With 53 million fully diluted already it would create some pretty heavy dilution for us if they did any sort of big financing at these levels.
I guess the next month or so will tell us what we've got.
If anybody hears anything it would be great to read it.